Globally, spot gold was trading at $2,735.7 per ounce, down 0.07 per cent at 9.15 am UAE time
markets2 hours ago
Emiratis have hailed the new government initiatives under the ‘Projects of the 50’ stressing that these will attract youths to join the private sector jobs, thereby solving the problem of unemployment among fresh graduates.
The UAE on Sunday unveiled a sweeping set of reforms and financial incentives to boost new private sector opportunities for Emiratis. Authorities announced that an investment of Dh24 billion had been allocated to create 75,000 new private sector jobs for UAE nationals over the next five years.
Hessa Al Mazrouie, an Emirati author from Al Ain, said she was happy with the new initiatives because they will attract many fresh graduates to the private sector.
“I am delighted with the new reforms because they will help build trust and confidence among fresh graduates to join the private sector,” said Al Mazrouie.
“Many Emiratis are keen on joining government departments because of job security and high pay yet these jobs are limited and government can’t employ everyone.”
She added: “With the new financial incentives and government support to the private sector, many young UAE nationals would be attracted to take up jobs in this segment which will solve the problem of unemployment, especially among fresh graduates.”
Al Mazrouie also noted that giving microloans to final-year university students and fresh graduates would help them become entrepreneurs and boost the economy.
Emirati social media influencer, Ali Saleh Aljaberi, 25, said many young Emiratis have been reluctant to take up private sector jobs because of the unattractive pay and lesser benefits compared to government jobs.
“With financial incentives such as a monthly salary bonus (apart from the pay) and allowances for children of Emirati private sector employees, I believe more citizens would now be happy working for the private sector as there will be no difference with their colleagues working for the government,” said Aljaberi.
Another Emirati, Mohammed Hamdan, 27, said besides the financial incentives, providing specialised and vocational training programmes for citizens will help develop their skills and become competitive in the private sector job market.
Hamad Al Rahoomi, first deputy speaker of the Federal National Council (FNC) and member representing Dubai last year, told the FNC meeting that the problem of unemployment was still high among UAE nationals as some companies were not recruiting them for various jobs.
According to Al Rahoomi, unemployment rate among citizens had reached about 13 per cent as 40,000 youths out of 300,000 Emiratis eligible to work in the country were job-seekers.
ismail@khaleejtimes.com
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